Mitchells & Butlers denies offer from Robert Tchenguiz

Pub group Mitchells & Butlers has played down press speculation that it is being pursued by Robert Tchenguiz’s R20 investment vehicle.

In a statement to the City this morning, the All Bar One operator said: “In the interests of clarity and transparency the board can only properly consider a formal written proposal.
 
“Our position has been clearly conveyed to the R20 consortium and remains unchanged. To date, no such proposal has been received.”
 
The denial of a formal offer came following stories that between £800m and £1b had been raised to make the swoop, offering shareholders a deal worth between 500p and 550p per share.
 
R20 already owns Slug and Lettuce operator SFI, pub group Laurel and Yates.

By Tom Bill

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